If ever there was doubt about just how much artificial intelligence (AI) has captured the imagination of investors and the public at large, simply look at the rock-star treatment of Nvidia CEO Jensen Huang at Computex in Taipei at the start of June. The global excitement around the world's most valuable semiconductor company has reached a fever pitch, but Huang's talk may have landed a bit differently across the Taiwan Strait. Washington's restrictions on the export of advanced semiconductors to China mean Nvidia's most advanced graphics processing units (GPUs) cannot be shipped or sold to mainland Chinese companies.
More than a half-dozen prominent billionaire investors dumped shares of Nvidia during the March-ended quarter, with many of these top-tier asset managers choosing to buy shares of a key competitor.
Multiple growth drivers and a trillion-dollar revenue opportunity could help this company maintain its impressive growth over the next few years.